The Association of Builders and Developers of Pakistan (ABAD) Wednesday said Prime Minister Shahid Khaqan Abbasi has assured that the government will reduce federal taxes on transfer of properties and provide all basic amenities for ABAD's Social Housing schemes in Islamabad, Karachi and other cities. According to the ABAD, PM gave this assurance during a meeting with ABAD delegation led by Chairman ABAD Arif Yousuf Jeewa at the Prime Minister Office.
Appreciating the step of ABAD for building affordable housing for the lower strata of the society, Abbasi said the government would provide all-out support for the schemes across the country and would ensure providing all utilities including water, gas and electricity. He also stated that the government would revisit federal taxes on transfer of properties in order to bring taxes at rational level. At the outset of the meeting, Chairman ABAD said that this important sector for the national economy was on the verge of collapse due to ban on construction of high-rise and multi-story buildings in Karachi. He also requested the Prime Minister to include a desalination plant into Karachi package announced by the federal government to overcome water shortage in the city.